bwhiting2356
5 hours ago
Increasing housing supply does not decrease home values, because high density housing benefits from network effects/economies of agglomeration. NIMBYs don't object because they think their house will be worth less, they object because they believe their quality of life will go down (based on what is important to them).
Higher density brings both good and bad:
upside: - high paying, specialized jobs - specialized, high quality services - stores open late - better dating (more fish in the sea)
downside: - more traffic - more noise - more pollution - more anonymity, crime (people in small towns leave their doors unlocked and say hi on the sidewalk)
The people who benefit most from higher density tend to be young professionals, which tend to not currently live in the neighborhood and will move in if density goes up.
Rendello
4 hours ago
> more traffic - more noise - more pollution
These are often true, but not inherently so. I've lived in remote rural, suburban, and dense city environments. My dense city had disadvantages, but it was quiet and had little traffic or pollution. In my experience the suburban environment is the worst for all three once you get off the residential streets, there's loud, polluting traffic (3/3).
In two of the places I lived, I couldn't keep the window open due to the constant tire noise. It wasn't an issue in the densest place I lived, which was a low-car-traffic place and pleasant to be outside in. Now, I live right next to a freight rail yard, but I don't find the train noise grating like the highway noise.
matsemann
4 hours ago
If anything, my experience is that NIMBY's also strongly oppose things that would reduce traffic, noise and pollution. Because a low traffic zone, reduced speed limits, or bicycle lanes, would infringe on their ability to drive their car everywhere without any disturbance.
pibaker
4 hours ago
Don't forget the gas powered leaf blowers. A whole symphony of them.
enragedcacti
3 hours ago
> downside: - more traffic - more noise - more pollution - more anonymity, crime (people in small towns leave their doors unlocked and say hi on the sidewalk)
These aren't all foregone conclusions. For example, Arlington, VA (11th highest density county in the US) most likely has the lowest combined traffic/homicide fatality rate in the country. Traffic peaked in 2000, and by 2015 it had gone down 20% while population rose 20%. This of course required a lot of planning and investment, but that is enabled by the higher property tax revenues that more housing brings.
https://www.bloomberg.com/opinion/articles/2024-11-18/how-ar...
kstrauser
5 hours ago
> Increasing housing supply does not decrease home values
This contradicts every common theory of economics I've heard.
bryanlarsen
an hour ago
He said home values, not prices.
The value of a home to an owner should be higher than the price, otherwise they should sell and move. (We're talking theory here, there are a lot of good reasons why people don't do what they should).
Building more houses will decrease prices, but increase value. Until the two meet and then the new houses will stay unsold and will stop getting built.
bwhiting2356
4 hours ago
majormajor
4 hours ago
Are there more housing units in Manhattan or Dubuque?
Which one has more expensive housing units?
Part of the purpose of development is to make more shit happen and increase demand. It's rarely just "new increaesed supply vs constant demand"
Or rather: a demand that would result in anyone producing new housing units does not happen in a vacuum. And outpacing that rate of demand rarely happens from construction alone.
smallmancontrov
4 hours ago
If you built more houses in Manhatten, would it increase or decrease Manhatten house values?
If you built more houses in Dubuque, would it increase or decrease Dubuque house values?
orangecat
4 hours ago
People in hospitals are less healthy than the general population. Clearly hospitals make you sick.
kstrauser
4 hours ago
> Are there more housing units in Manhattan or Dubuque? Which one has more expensive housing units?
That's an interesting question, because it's often — not necessarily in this case, but often — asked by people who ignore capitalism when it's inconvenient to their case. Other askers simultaneously claim things like "Dubuque has a lower cost of living" and "Dubuque is a better place to live". That ignores the fact that Manhattan is more expensive because more people want to live there, to the point that they're willing to pay several times more for the benefits they believe it gives them.
When someone argues that city X is n% more expensive than city Y, it's another way of saying that residents believe they're getting at least n% more value from Y than they would from X.
llsf
3 hours ago
- more traffic: compare to now? or pre-COVID? because now it is already lower than pre-COVID, at least in SF. I have lived here for more than 20 years, and only now I see seeing empty parking spots around my house. I would never see this 10 years ago. So, if we double the population, yes there would be some additional traffic. But how would it compare to 10 years ago ?
- more noise: From traffic? electrification is making transportation quieter than before. From people in the streets? again the streets are way less busy compare to pre-COVID at least in SF. People either do not work, or work from home, get delivered everything from movies (Netflix), to food (UberEats) or shopping (Amazon), etc. foot traffic is WAY lower than pre-COVID. So if we double the population, yes there would be some additional foot traffic. But how would it compare to 10 years ago ?
- more pollution: From traffic? electrification is offsetting some of it. From trash, well those people were trashing elsewhere too.
- more anonymity, crime: That is cultural. Tokyo is fairly dense city, and with fairly low crime compare to US standards.
"The people who benefit most from higher density tend to be young professionals": Go visit a major city in Europe (Paris, Barcelona, etc) that has high density, and you would see lots of different generations, not only young professionals. It is possible to live from cradle to grave in those cities. It does not have to transition spot when you are young, professional and looking at dating. It could be where you go to kindergarten, up to university, work and retire.
I feel like the main thing that NIMBY fear is change, any change. Hausmann, where are you ?
happytoexplain
3 hours ago
>I feel like the main thing that NIMBY fear is change, any change.
Broadly disparaging large, diverse groups of people like this is what makes things harder, not easier. This is tribalism.
tptacek
3 hours ago
NIMBYism isn't a fixed group of people; it's a policy position. Policy positions can be bad or good or all points in between. What they're not is analogous to religions, or even political parties. They do not need to be entertained.
It's valuable to know where people are coming from, so you can persuade them out of unproductive policy positions (or at least deactivate them so they're less in the way of change). It's important to be respectful of people. It's often counterproductive to be respectful of bad ideas.
onlyrealcuzzo
4 hours ago
> downside: - more traffic - more noise - more pollution - more anonymity, crime (people in small towns leave their doors unlocked and say hi on the sidewalk)
Ah, yes, we live in a black-and-white world where this always happens, and so does this:
> upside: - high paying, specialized jobs - specialized, high quality services - stores open late - better dating (more fish in the sea)
There plenty of VERY affluent rural-ish areas.
There are also plenty of very nice places to live with high density that have FAR less crime rates that typical rural America, minimal traffic or noise, and far less pollution than you can find anywhere remotely rural and industrial or even agricultural areas.
The reality is - there's a lot of Karens that will do anything they can to deny everyone else of anything else they can possibly deny.
That's a large component of NIMBYism. These types will find any reason to justify it.
briandw
4 hours ago
I think you are conflating a number of factors. Increasing the supply of a good, when all other things are equal, decreases the price. Austin TX is a good example.
If increasing the amount and density of housing increases the desirability of a place thus increasing the value of the housing, this still has limits.
The SF bay area has had a housing shortage for 30 years. Its driven by people wanting to move in that have lots of money AND the refusal of local cities to allow housing to be built, also there isnt new land to build on. However the number of vacant plots in Mountain View is disgraceful.
If we allowed people to build high-rise apartments in downtown Mountain View rent would drop.
happytoexplain
5 hours ago
Well, increasing housing supply does not always decrease home value, but I also think the home value concern is a secondary distraction.
More saliently, I don't believe you're right to imply that "young professionals" only want to live in dense areas. Sometimes they have to, but that's something we can change.
jeffbee
4 hours ago
Increasing supply always decreases price compared to a counterfactual without the supply but with all else equal.
stephen_cagle
5 hours ago
Where are you thinking of when you say that young professionals move when density goes up? That does not track with my observations.
pydry
5 hours ago
increasing supply while demand remains steady does actually lower prices.
NIMByism can be killed with a land value tax/a property tax that approximates LVT and vice versa.
It was kicked into overdrive in California thanks to prop 13 which capped property taxes.
tptacek
4 hours ago
LVT : housing :: guaranteed income policy : labor.
It's not a bad idea, but it doesn't moot the underlying questions, because it will never be deployed at the scale where it would be dispositive.
jakintosh
4 hours ago
the problem is that all supply is not equal. in the classic NIMBY case, we’re talking about single family home owner in a neighborhood that has high housing demand, meaning it is largely built out, and they are opposing the introduction of multifamily housing to their neighborhood. in order for new multifamily units to come online, this means that over time existing SFH units are being converted/redeveloped into multifamily homes. this means that at the point where NIMBY pushback starts to matter, the number of SFH in a neighborhood has already largely peaked, and that the supply of that type of home will only ever go down and become more scarce (especially as a percentage of overall units). as more people move into a neighborhood in new multifamily buildings (and bring jobs, businesses, services, and general opportunity) the demand for that neighborhood goes up as well—demand is not fixed, and often goes up with supply, and depending on other macro factors can even outpace it if the agglomeration benefits are working properly. in this case, the NIMBY’s SFH value goes up, because the land value is much higher due to redevelopment potential, and also because that type of home is scarce and highly desirable to wealthy people who want proximity to opportunity in an urban place with the privacy and luxury of a detached SFH.
tl;dr: “while demand remains steady” is doing a lot of heavy lifting that doesn’t really make sense in a real dynamic urban system.
bwhiting2356
5 hours ago
Can you show me an example where prices went down (in the long term)?